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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Norsk Hydro | LSE:NHY | London | Ordinary Share | NO0005052605 | ORDS NOK1.098 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 583.00 | 539.50 | 626.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Norwegian aluminium company Norsk Hydro ASA has made a binding offer to acquire Rio Tinto's 100% share of Icelandic aluminium plant ISAL. The offer also includes the Dutch anode facility Aluchemie and Swedish aluminium fluoride plant Alufluor.
Transactional highlights
Strategic rationale
"The bid demonstrates our strong belief in aluminium, which is seeing the strongest global demand growth among base metals. Having presence across the value chain is essential to create value from this growth and promote sustainable practices in our global operations," says Hydro President and CEO Svein Richard Brandtzæg.
Hydro sees synergies with respect to technology creep, optimization of anode portfolio and freight and handling. The Icelandic plant runs on the same technology platform as Hydro's Husnes plant in Norway, where Hydro recently announced a re-opening and technological upgrade of the plants' second electrolysis line.
"We see great potential in exchanging competence and technology elements between our aluminium plants. We are now running a technology pilot in Norway which aims to be the world's most energy-efficient and climate friendly aluminium production facility. These innovations will be expanded to other Hydro facilities, and as part of Hydro, ISAL will benefit from such technological spin-offs and competence," says Hilde Merete Aasheim, Head of Hydro's Primary Metal business area.
Key facts:
ISAL:
Aluchemie:
Alufluor
Norsk Hydro is a fully integrated aluminium company with 35,000 employees in 40 countries on all continents, combining local expertise, worldwide reach and unmatched capabilities in R&D. In addition to production of primary aluminium, rolled and extruded products and recycling, Hydro also extracts bauxite, refines alumina and generates energy to be the only 360° company of the global aluminium industry. Hydro is present within all market segments for aluminium, with sales and trading activities throughout the value chain serving more than 30,000 customers. Based in Norway and rooted in more than a century of experience in renewable energy, technology and innovation, Hydro is committed to strengthening the viability of its customers and communities, shaping a sustainable future through innovative aluminium solutions.
Contact details
Investor contactEven Simonsen +47 97953364Even.Simonsen@hydro.com
Media contactIna Strander+47 47613277 ina.strander@hydro.com
Cautionary note Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream businesses; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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